The largest subcoin Ethereum $2,685.18 (ETH) has long been trying to cross the level of $ 3,000 for a long time. ETH, which has moved between 3 thousand 300 dollars and 2 thousand 700 dollars in the last 30 days, gives signs of recovery despite the uncertainty in the market. In -chain data, large stock market outlets and technical indicators show that the price can move upward in the short term. So, can he overcome the resistance to Ethereum?
Ethereum Price Analysis: Important Levels
Ethereum price The first strong resistance point for it is 2 thousand 800 dollars. If this level is exceeded, ETH is likely to rise rapidly towards 3 thousand 200 dollars. The 50 -day mobile average (EMA) is one of the most important indicators that support this rise.
Technically, a permanent movement above $ 3,000 ETH priceIt can allow it to reach 3 thousand 500 dollars. This level is a powerful resistance point that has not been tested for a long time. On the other hand, if Ethereum falls below 2 thousand 700 dollars, the price can be expected to decline to 2 thousand 591 dollars. For this reason, investors should closely follow the resistance of 2 thousand 800 dollars.
Corporate interest and stock market outlets support ETH price
Positive signals for Ethereum are not limited to the technical table. For example, it reinforces the likelihood of rising by reducing sales pressure on the price of 768 thousand 500 ETHs withdrawn from the stock exchanges. Such high amounts of ETH shots correspond to the highest level of the last 23 months.
Increasing the amount of ETH drawn from the stock exchanges reduces the circulatory supply and paves the ground for the upward movement of the price. Moreover, the increase in the interest of corporate investors strengthens the possibility of the largest Altcoin to reach higher levels in the medium term. If this request continues, ETH can reach 3 thousand 500 dollars before the middle of the year and then to 4 thousand dollars.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and perform their operations in line with their own research.
